City on the move as roving households seek out home improvements

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One in four NSW households moved in the past three years, with
single-parent families and people living alone the most mobile, a
new survey shows.

The Bureau of Statistics found 21 per cent had moved because
they wanted to live in a better area while 19 per cent relocated
because their previous home was unsuitable.

The survey also highlighted Sydney's trend for apartment living
with one in four households in the city living in a flat. This
compared with less than one in 10 for the rest of the state.

Separate houses make up 68 per cent of all homes in Sydney -
well short of the 86 per cent for the rest of the state. About 11
per cent of Sydney households live in terraces, semi-detached
houses and townhouses.

Among Sydney's owner-occupiers, 30 per cent are mortgage-free, a
lower proportion than the rest of the state (40 per cent). Renters
were the most mobile groups with 44 per cent having moved in the
past three years compared with just 9 per cent of home owners
without a mortgage.

More than 30 per cent of one-parent families and people living
alone had moved in the past three years, compared with 25 per cent
of couples with children. Those living in flats were almost twice
as likely to have moved in the past three years than those in a
separate house.

Meanwhile, there was a 0.5 per cent fall in building approvals
in February, driven by a 3 per cent drop in approvals for private
houses. Approvals of other dwellings, such as units and townhouses
rose by 5.2 per cent in February.

There were 4480 units approved in February, a figure above the
decade-average level of 4145.

Economists said the figures would have little bearing on the
deliberations of the Reserve Bank board, which meets to consider a
interest-rate increase next week.

Financial market bonds traded on financial markets suggest
investors believe there is a 75 per cent chance the Reserve will
lift interest rates by 0.25 of a percentage point on Wednesday,
after its meeting on Tuesday.